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    2858   KYG9T43R1023

YIXIN GROUP LIMITED

(2858)
  Report
Delayed Hong Kong Stock Exchange  -  05/24 04:08:14 am EDT
0.7800 HKD    0.00%
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Yixin : APPOINTMENT OF INDEPENDENT FINANCIAL ADVISER

08/07/2020 | 06:24am EDT

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

This announcement appears for information purposes only and does not constitute an invitation or offer to acquire, purchase, or subscribe for securities of the Company nor is it a solicitation of any vote or approval in any jurisdiction.

YIXIN GROUP LIMITED

易鑫集團有限公司

(incorporated in the Cayman Islands with limited liability and

carrying on business in Hong Kong as "Yixin Automotive Technology Group Limited")

(Stock Code: 2858)

APPOINTMENT OF INDEPENDENT FINANCIAL ADVISER

Reference is made to the joint announcement issued by Yixin Group Limited (易鑫集團有限公司) (the "Company"), Tencent Mobility Limited and Hammer Capital Offerco 1 Limited dated June 15, 2020 (the "Joint Announcement"). Unless the context otherwise requires, the capitalized terms used herein shall have the same meanings as those defined in the Joint Announcement.

The Board wishes to announce that Optima Capital Limited, a corporation licensed to carry out Type 1 (dealing in securities), Type 4 (advising on securities) and Type 6 (advising on corporate finance) regulated activities under the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong), has been appointed as the Independent Financial Adviser of the Company to advise the Independent Board Committee in respect of the Offers and, in particular, as to whether the Offers are fair and reasonable and as to acceptance of the Offers. Such appointment has been approved by the Independent Board Committee in accordance with Rule 2.1 of the Takeovers Code.

The letter of advice from Optima Capital Limited in respect of the Offers will be included in the Composite Document to be despatched to the Shareholders and the Optionholders in due course and in compliance with the Takeovers Code.

1

Warning: The Offers will only be made if Merger Closing takes place and the Merger becomes effective. In the event that the Merger is not consummated, Merger Closing does not take place and the Merger does not become effective, the Offers will not be triggered. Accordingly, the Offers may or may not be made. Shareholders, Optionholders and potential investors should exercise extreme caution when dealing in the relevant securities of the Company. A further announcement will be made by the Joint Offerors and the Company when Merger Closing takes place and the Merger becomes effective. Persons who are in doubt as to the action they should take should consult their stockbroker, bank manager, solicitor or other professional advisers.

By Order of the Board

Yixin Group Limited

易鑫集團有限公司

Andy Xuan Zhang

Chairman

Hong Kong, August 7, 2020

As at the date of this announcement, the Directors are:

Executive Directors

Mr. Andy Xuan Zhang and Mr. Dong Jiang

Non-executive Directors

Mr. Jimmy Chi Ming Lai, Mr. Chenkai Ling and Mr. Huan

Zhou

Independent non-executive

Mr. Tin Fan Yuen, Mr. Chester Tun Ho Kwok and Ms. Lily

Directors

Li Dong

All Directors jointly and severally accept full responsibility for the accuracy of the information contained in this announcement, and confirm, having made all reasonable enquires, that to the best of their knowledge, opinions expressed in this announcement have been arrived at after due and careful consideration and there are no other facts not contained in this announcement, the omission of which would make any statement contained in this announcement misleading.

2

Disclaimer

Yixin Group Ltd. published this content on 07 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 August 2020 10:23:08 UTC


© Publicnow 2020
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Financials
Sales 2022 4 526 M 681 M 681 M
Net income 2022 - - -
Net Debt 2022 - - -
P/E ratio 2022 -
Yield 2022 -
Capitalization 4 311 M 648 M 648 M
Capi. / Sales 2022 0,95x
Capi. / Sales 2023 0,83x
Nbr of Employees 4 980
Free-Float 18,1%
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Mean consensus BUY
Number of Analysts 1
Last Close Price 0,66 CNY
Average target price 0,97 CNY
Spread / Average Target 47,4%
Managers and Directors
Xu Andy Zhang Chairman & Chief Executive officer
Dong Jiang Chief Operating Officer
Ming Xu Chief Financial Officer
Tian Fan Yuen Independent Non-Executive Director
Tun Ho Kwok Independent Non-Executive Director